
Chinese purchases of US farm goods other than soybeans are on track for a seven-year low this year, according to a Reuters analysis of customs data. Non-soy imports totaled $7.2 billion from January to September, the lowest for that period since 2019, despite a $17 billion annual pledge.
Weak Chinese buying of US corn, sorghum and meat keeps export demand soft for those feed grains and adds doubt to the trade deal's supply outlook. Soybeans remain the main bright spot, so the price effect is mostly bearish for non-soy feed ingredients.
After 681 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 250 past neutral trade events, SOY moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.